Florentino Pérez called a press conference at the Santiago Bernabéu and announced that José Mourinho will step down as Real Madrid coach at the end of the season. Even though the Portuguese manager had a contract until 2016, the club's board of directors has reached an agreement with him to leave the club after three years in charge.

"It isn't nice to reach a solution like this, but it is also true that after three years, both of us have agreed that it was the right time to end this relationship and we want to thank him, firstly, for the job he's done", the Real Madrid president said.

"I would have liked Mourinho to stay for many more years, but many Real Madrid fans believe that the pressure he was subjected to wasn't normal and a person can only put up with so much", he added.

"We haven't reached an agreement or signed a pre-contract with another coach. That’s the task at hand and our job for the next few days. PSG told us they didn't want to let Ancelotti go", Florentino Pérez responded to the question whether he already knew the name of the manager set to replace José Mourinho in the Real Madrid dugout.

"We want the new coach to be someone who can help us continue improving. In footballing terms, we’re playing to a high standard that we should never have lost, but had lost during the six previous seasons", the president said.